Scholes, Merton Says Banks Should Value Assets Better

Myron Scholes and Robert Merton shared the 1997 Nobel price for economics, and they are now united in calling for banks to give more accurate valuations on their illiquid assets.

Financial institutions should use mark-to-market accounting or list the hard-to-value securities on public exchanges whenever possible, Scholes said in a Bloomberg Radio interview yesterday...

Bloomberg: Scholes, Merton Says Banks Should Value Assets Better